OPEN-SOURCE SCRIPT
Updated Pivot Parallel Channel by [livetrend]
This script draws parallel channels using pivot points for trend analysis.
Script draws maximum 4 parallel channels if suitable up or down trend already exists on the chart according to chosen Pivot Length and Multiplier.
You can change Multiplier to draw Higher Time Frame Channels.
Good luck!
Script draws maximum 4 parallel channels if suitable up or down trend already exists on the chart according to chosen Pivot Length and Multiplier.
You can change Multiplier to draw Higher Time Frame Channels.
Good luck!
Release Notes
- Added channel scaling according to threshold.
Release Notes
- Minor bug fixed
Release Notes
- Chart Updated
Release Notes
- Alert conditions added
- Trend directions added
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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